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that. he's considered -- he was brought in to citigroup by, i believe, bob rubin, spent time in the clinton administration. people describe him as a pretty partisan guy. he's much more liberal than geithner, although geithner is a guy whether he's liberal or not personally carried the president's water pretty well. you know, i'm not saying he did a good job, i'm just saying he did not deviate from the president's line. you know, it's interesting. guys like bob rubin when they were treasury secretary, he basically went up against the president. if you read some of bob woodward's books, which i have, i mean, the way bob woodward tells it, bob rubin, the treasury secretary for clinton, forced clinton to raise taxes but used that money for deficit reduction because he believed that would control the economy. president clinton did listen to him. and i'll tell you, i talked to bob rubin about that anecdote where clinton says you tell me a bunch of bond traders control the economy -- i'm paraphrasing -- and rubin said, yes, i am. i asked him about that once a couple years ago, and h
. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. >>> ever since the horrific hurricane sandy rolled through the northeast wrecking everything in its path, i've been telling you that there are two sides to this natural disaster coin. on the one side, of course, most terrible, sandy was an absolutely horrible human tragedy. caused tens of billions of dollars worth of property damage. the flip side is that the superstorm
and a hat for 38 bucks. >> add a cup of coffee and a hot dog. >> while we use the word trousers, bob pisani is here watching what's good morning, bob. >> happy monday, everybody. did you notice the market. nice rally here. again, the market is demonstrated that it believes a deal on the fiscal cliff is coming. i know. i didn't hear it over the weekend. headline risk was all anybody wanted to talk about on friday. if anybody says that a deal is not happening or it's going nowhere, we could wake up down 15 points on the s&p on monday. guess what? boehner said the deal is going nowhere. now, when i call the bulls on this, they say, bob, they didn't say a deal was off. they just said so far the negotiations are going nowhere. the market still believes that a deal is coming and it's going to be a substantive deal. instead and by the way, geithner insisted on tax rates issues. looks like there may be something happening eventually. we didn't fall apart on the whole thing. even futures weren't down overnight. instead we rally on a little bit overnight on the greek deal and for those that don't kno
, bob doll will be giving us his lineup for stocks. that's coming up at 7:00 a.m. eastern time. at 8:00 eastern, a cnbc exclusive. david tepper, one of the world's top performing hedge fund managers will join us to give us some of his wisdom in a kaerc t can't-miss interview. a lot to talk about with him. in the meantime, why don't we get to some of today's top stories. we could see some movement in the fiscal cliff negotiations. house speaker boehner offering to raise the top tax rates on those making over $1 million a year as well as other measures amounting to $1 trillion in new revenue. that's in exchange for an equal amount in spending cuts. the white house has not yet accepted the proposal. >>> also, apple says it has sold more than 2 million in iphone 5s in china just over the last three days. that's the best ever debut for the iphone line in china. apple is china's second biggest market, although it did lose a lot of market share while they were waiting for that i5 to come out. and citi research has downgraded apple from a hold to a buy. you can see there just below $500. >>
telling us that this is not a balanced plan. they don't like it yet. and then earlier today, senator bob corker was on cnbc kind of pooh-poohing the whole thing. take a listen. >> we're not close to a deal. and i've been trying for three weeks, i've been standing on my head doing cartwheels to try to pivot toward entitlement reform. this is not a deal here. >> so carl, what's going on right now on capitol hill is that speaker boehner is meeting with his republican conference colleagues behind closed doors. we expect that at the top of the next hour, he's going to come out and talk before cameras. we'll get some reaction from his colleagues as well, what they think of this proposal and where they think this negotiation needs to go. but clearly, negotiations are ongoing, and the president and the speaker are coming closer together, whether or not that makes everybody happy or enough people happy to get a deal still remains to be seen, carl. >> eamon, this is a tough one to read. had the biggest movement been in that -- in the line in the sand with regards to how much people need to make to
a deal. it's all coming up. stay tuned. well, if it isn't mr. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. >>> welcome back. intercontinental exchange and nyse are lower today at news of their $8 million merger. >> you get it, cold as ice? >> bob gets it. >> we never hesitate to play an old rock song from the '70s. i.c.e. is down 2.7%. i'll tell you why this is important. because you get a multiple of ice for your nyse shares, .17 shares of i.c.e., plus a tax component. as i.c.e. goes down, the money the nyse shareholders will get goes down. i.c.e. does not pay a dividend, but the nyse does. i.c.e. did commit to paying a dividend yesterday, $3 must know million is what they committed. that's v
right, sharon, thank you very much. i'm here with bob and michael once again. bob, we will start with you. up 75 point on the dow jones. we still have the fed news conference to go, though. >> yeah, here is what is important. there is a tug-of-war going on between the stock market and book market. stocks love stimulus. infinite for stimulus. stim lut infinity. if you look at major sectors. big global gloej areas. industrials, materials, all of your energy stocks. all are kind of moving to the upside today. here is the problem. the bond mark set scared to death of the inflation implications of what the fed is doing today. so if you look at bond yields you will see a big move up in bond yields. if you look at the dollar, the dollar weakened because of course, stimulus means of course cheaper dollar over all. there is a real tug-of-war going on between the stock and bond market. >> we were talking earlier that bond market sees there is a finish line. once we have numbers pegged, they say, rates aren't going to be low forever. if the bond market sees unemployment at 6% or 6.99%, you
at this point. that's why we have a triple digit advance, up 114 points on the dow jones industrial average. bob pisani with some trading action. the market is aching for a deal. any time we get any sense they are making not even a deal, just they are talking. >> plan b by boehner is a very modest proposal as steve pointed out. the market doesn't care. it's almost as if boehner and obama are in the way and they have to get out of the way. the market deal, even if there isn't a deal, two-month highs on the s&p. look at that, highs of the day, even if you want to be pessimistic, there's not a lot necessarily here that's been going on today. s&p up 14% for the year, folks. we've got a number of new sectors, new highs, financials at new highs, s&p sectors, consumer discretionary group, retailers and home builders also at new highs. look at these home builders, up 4%. an average increase this year. banks and home builders are the two big winners this year. >> kenny, come on in. an independent trader down here at the nyse. mr. geithner in the mix. the administration uses him very effectively to talk t
that bob toll cited, 1.8 to 2.8 million households fewer since 2007 were formed and that's playing catchup. we should have the formation of those households unrolling now. >> i thought it was amazing. saying the optimism has to do with demographics and not the fiscal cliff. kimberly clarke talkeded abo ee decline in birth rates. i don't shop for diapers. >> i did. not long ago. >> are you out of it? >> tail end. >> such a nice thing. >> amazing statement by them saying, listen, not a lot of people are having kids. >> what about adult diapers? >> there is some household formation in the u.k. we'll get at least one new baby in the u.k. right? >> she's a smart person. i wasn't going sexist there. i know better than that. i'm not going over the sex cliff. >> she's fashionable. >> yes, she is. >> even i know she's fashionable. >> whatever she wears maternity wear, it will be a boost. >> does she go to gsw? i said that was discount. it's designer. and you've got to go there. >> there's one on 79th street. >> gorgeous store. you can go to whole foods and you can buy shoes. may i suggest you do th
boehner has been a good leader during the fiscal cliff negotiations. and then we were joined by bob corker and bob conrad. corker said we need to focus more on entitlements now, and he will not sign any package that doesn't deal with entitlements at this point. conrad said more, not less, should be included in some sort of a big deal. by big deal, he means over $4 trillion. we are now just 20 days away from the fiscal cliff deadline. we continue to bring both sides of the aisle to sit down together. congressman sander levin is a ranking member of the house ways and means committee. and a republican from new jersey, the vice chairman of the house budget committee and a member of the house financial services committee. gentlemen, thank you both for being here. >> thank you. >> we just sat down with senators conrad and corker. they seem to agree on a lot of areas. one of those areas is they think we need to negotiate up from this point, not down from this point and cut some sort of a deal that is 4 trillion or greater when you add up the tax increases. congressman levin, would you agree with
bob moffett t chairman of both companies, mmr, owns a stake in pxp, board seats. it's related. >> and yet, ackerson, did we get hold of him? he's always been very pro shareholder. this is the most anti-shareholder. unless you're a very large shareholder. >> isn't he cynical? >> these guys are different, moffett and our man in chesapeake. >> thank you. they approach the world a little different. >> is it different from you? you're fitzgerald. >> i don't want to say cavalier, but they like to take risks, that's how they built their fortune in the first police, they all take risks. >> i thought if you bought freeport, you were trying to play the grassberg, big copper, the china thing, i didn't know i was getting involved in a high stakes poker match. >> yes. which is why you're selling. >> let's get to bob pisani who's on the floor watch what's moving. >> moffett wants the cash flow from freeport who helped finance the drilling for mcmoran drilling. why did they have to spend 70% premium to buy these things? if i wanted to buy them, i could have bought them a lot cheaper, i wante
about half a percent. bob joins me on the floor of the nyse. the market is very undecided about what is happening in washington. what the feds know that perhaps we don't know. >> we are getting smacked around by these two separate events. the fiscal cliff as well as aftermath of what went on with the fed. i think the fed is still very important here. take a look the dow industrials. remember, we started moving down right after we saw mr. bernanke give his press conference. we talked about fiscal cliff having problems, not having the tools to deal with the fiscal cliff. the fed not having it, should we go over that. there we are dealing with the aftermath. remember something folks, september 14 is the high for the s&p this year. you know why that is important in september 13 is the fed meeting. they bought into the fed meeting and sold right after that, sue. and they are doing that again today. we are repeating what happened just a few months ago. i think that's why it is very important. elsewhere, defense stocks. here is a group that's very worried about frustration when mr. bernanke
, bob, it's a fantasy. all of this goldilocks stuff is a fantasy. you cannot get strong growth with rising taxes and lower spending. that's not going to happen. you cannot have unlimited stimulus that is not going to cause inflation. that's just a fantasy. so there's a real fight going on. none the less, have you noticed, gold being sold, buying the euro, it seems a weird trade going on here affecting the markets. this was going on yesterday as well. this may have to do with the yen. the yen is hitting new lows against the dollar. it's hitting new lows against the euro. have you seen what's going on with the japanese elections? the new prime minister told the bank of japan we want more stimulus. guess who's meeting thursday? the bank of japan. japan's exports fall for the sixth straight month. you are going to see the bank of japan on thursday announce new stimulus measures. you're going to see efforts to weaken the yen. it's going to get even weaker. that is the old yen carry trade. that may be where some of this money is coming from to do the odd little trades that seem to be
. we are at the gi bill rates the guys came back from the war. >> bob pisani is here this morning more on what's moving. hey, bob? >> let you know about an ipo pricing down here, pbf energy here operation 20.5 million shares at 26. this looks ready to open at 28. the book is frozen right now so that means that the -- the specialist you can the dmm here has indicated the final price is in, it looks like pbf is going to open right now at $28, one of two ipos down that are priced today, solarcity pricing over on the nasdaq that is not yet open. get to more on that shortly. guys, mentioning when will the bond bubble burr president? big topic overnight that i was getting, at least. the feds actually yesterday, yields spiking up, reignited this debate. remember, this was the big call at this time last year, 2012, the year the bond bubble burst. by the way, it hasn't abated. it has continued into the fourth quarter of this year, despite other people's predictions. seen continue outflows in stock mutual funds, the call for 2012 the wrong call, reignited, you mentioned ray dal yo, dave rubenste
of jpmorgan and our own bob pisani. gentlemen, thanks for joining us. rich, what do you think about fundamentals going into 2013, corporate sector, economics? >> i'm actually quite bullish about 2013. i think we're going to start getting, as the year goes on, easier comparisons for corporate profits. the corporate sector as we know is loaded for cash. i think when we get beyond this uncertainty and corporations have more certainty, i think we're going to see an m & a wave because they have underinvestmented for the future by hoarding all the cash so i think they will have to buy growth so i think 2013 could be a very good career. >> what do you think, joe? >> i agree. everything we've been dealing with the past year has been the uncertainty. is it europe, the election? is it the fiscal cliff, but as you go through those one by one, the election is now behind us. i do believe we'll have a resolution on the fiscal cliff and if you look at europe, the ecb put a gigantic band-aid on this so next year will be a big year. >> did you see the s&p upgraded greece today by six notches? i had
you some of those little comment from the attorney general. we now will bring in bob doll. bob is the chief acuity strategists. bob, it is always good to see you. you sound like you are fairly optimistic about the stock market. explain to us why? >> i think the asset choice by default almost that your cash is zero and if the view of the world is okay and it will grow a little bit and that financial problems -- a little bit of earnings growth, maybe a little bit of multiple improvement. connell: where is the economic growth going to come from? there will be some drug on the economy from the cuts and spending, you would think. it is just a matter of how much. >> our guess is that fiscal cliff and nothing done is a- four to gdp. they will end up doing something that will make it minus 1.5. when they get the rules, they are more likkly to be able to plan their future and that they have somebody hire a worker, expand a plant somewhere and maybe we have a little bit of growth. connell: there is a case to be made that it is better to have a good deal, i am sorry, it is better to have
boehner doesn't seem to have the power and grover does. >> the point, again, bob corker's pledge is not to me, it is to the voters of tennessee, that's the argument he's made again and again. if he wants to have a different conversation with the voters, that's his choice. >> why is corker the coolest man on earth? who does he play golf with? peyton manning. >> really? >> he's giving me all the big -- the minimum tax. i said, what are you up to this weekend? he said, i played golf with peyton manning. i said, are you kidding me? that seems to be more important to you than the fiscal cliff. >> 11-3? >> they still need home field advantage. >> they're competing for a first round play-off. what peyton has done is just amazing. steve liesman's exclusive with lacquer. one more look at futures this morning. we'll cover what 10% on squawk earlier today. and a lot more when "squawk on the street" comes right back. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 l
bob corker on a little later this morning, too. and we can talk to him about that. he's a big defender of gun rights, particularly in his state of tennessee. >> we did show you the futures. they are indicated higher. you can see right now the dow futures up by 6 points. the nasdaq is up by just about 13 points. we've been watching oil prices this morning, as well. oil prices are up about 50 cents. you take a look at the ten-year, the ten-year note is yielding 7 of 68%. and the dollar this morning is down across the board. euro is trading at 1 is 31.79. the dollar/yen is at 83.86. gold prices have barely budged. they're up about 1.80 to $1700 an ounce. >> maybe kelly knows, that euro, is that a six-month high? >> well, yeah. >> you guys have to keep up. you're not keeping up. you guys have to print. let's go here. >> one of the aggressions after japanese elections, now the bank of japan is under huge pressure to bring more quantitative easing and much more stimulus. one big question is are we going to see the eurozone rs theed to copy that and we're going to see 2013 with quantitative e
children to sweat shop work day? >> anyway, let's check with bob pisani with more on what's moving today. >> let's talk about what the trading day's going to look like. that was the main topic of conversation overnight and through this morning. i would note, folks, i know this is not a good open, but we are well above where we were at the close last friday. so we were 1413 last friday at the close, 1427 now. i think on the s&p 500. okay. it's a bad day, a down day, but we're still actually above where we were at the close last year. we're up for the week on the s&p 500. i think the problem now is going to be talking about what the rest of the day's going to look like. my sense talking to everybody is, they'll try to sell at most of the rallies that go on, just to protect themselves for what we've been seeing here. that's going to be a problem. because i know you're hopeful maybe we'll get a move up toward the close. i think selling into the rallies is going to be a general problem. i specifically was talking to people about that today. we've been rallying. the biggest problem that we hav
in a competitive way. what does bob greifeld do at nasdaq? bob greifeld, basically team that to take over the stock exchange, a deal that was shot down by u.s. securities regulators. what does bob greifeld do? he is up against a formidable player in the stock exchange, new york specializes in stocks, trading equities. these guys specializing in commodities. they have to do something competitively. why did duncan neiderauer sellout? we have a chart and we will show you. it talks about volume. if you look at the amount of trading volume, we have that charge. >> best laid plans. lori: that is double of new york stock exchange, euronext, is that what you're getting at? no. >> what i'm getting at should be on a chart right now, is volume. this is like a amazing. this is coming. move on. there we go. that tells you the story of why duncan niederauer had to sell. look how trading volume shoots up. and it has been coming down ever since. that is bad, bad things. that means if, that means that, revenues, at the new york stock exchange are in a secular decline. that is bad. that means you have to sell. melis
interesting conversations over the weekend was bob corker saying, let's just go ahead, concede to the tax argument, which would flip the entire spotlight onto entitlements, which is what republicans have been trying to get the discussion to be about over the last couple of weeks. >> when you hear about entitlements, why aren't they talking directly, you know, medicare part b koshcosts x, or medicare a, should cost this. the last thing a republican wants to do is say, look, i'm cutting back medicare. so, i mean, if you switch it to entitlements, suddenly everyone has to say, social security goes from 66 to 68. is that what we do? do we means test medicare? it is so much easier for grover who will be on cnbc, forget the fiscal cliff, i will come after you with both barrels. if you vote tax increase. what's more -- do they want to rise above a tax increase? no. do they want to rise above fiscal cliff? no. what they want it do is not rise above the radar screen of raising taxes. and grover is more powerful than a recession. i asked him point-blank on "meet the press," college chum, look, it d
. in 30 minutes, senator bob corker and kent conrad. and at 9:00 eastern, representative scott garrett and sander levin. remember "squawk on the street." >> that's right. "squawk on the street" we have a lot to come, as well. the two senators we're talking with next, two members of the gang of eight now. we'll talk to them. guys we'll send it back to you right now. >> great. thanks, guys. appreciate that. we are now, though, going to flip it over to phil lebeau who is in new york and he's got breaking news. >> as expected we knew that delta was in negotiations to buy 49% stake in virgin atlantic. the deal has been completed. the price is $360 million for that delta will increase its access to heathrow. that's really the key here. 31 daily nonstop flights. that's all part of what goes between the uk and north america for virgin atlantic. the brand remains, guys. make that clear here. the virgin atlantic brand does not go away. what changes is that delta has a 49% stake in the company. there's going to be a press conference later this morning here in new york. we're going to be talking w
to explain about that. plus, we have bob from jones day who specializes in wall street deal making. jeff, it is ammo on wall street to do things behind closed doors. you don't want word to get out on the negotiations. it gets too messy. >> right. i wouldn't advocate for a lot of people to do what wall street does. one thing you can say is they've helped facilitate thousands of mna deals this year. they've figured something out with these transactions. the deals that are most successful have the better chance of success are the ones that you negotiate behind closed doors, not the ones that turn into hostile battles and spill out into public, which is what we're seeing noup. >> i understand that, but at the same time, what wh are we going to have a deal already? people are so frustrated by this. we've had 13 months to think about. now we're down to 26 days. bob, can you really make a deal on the fiscal cliff when the negotiation is out in public? do you think we'll get a deal done? that's what everybody wants to know. >> if everybody thinks we ought to get to a deal, we'll get to a deal. t
, the fed meeting. what are the proceed right now? >> we've got bob from s&p capital iq. steven wood and gordon shallop. great to have you all on the show. you normally get the priority of speaking first. what are you doing right now? >> right now we're anticipating for volatility. we knew it was going to be a volatile fourth quarter. there's a lot of policy induced volatility. that said, the economy in the united states has not changed that much. it's grinding along. that recovery we've been talking about for a long time. so it's measurably positive, not robustly positive. that's kind of doing battle with just about offsetting some of the policy risk. >> the fear is all that changes if we go over the cliff. >> it would. right now the forecast is there's some compromise. there's a short-term compromise. they buy time. and they use that to get the silhouette of a grand bargain. if they use the time well, the markets could like that. if we do go off the cliff, that's 8% of gdp. >> what's your expectation, bob? >> we put out a research saying the fiscal cliff was going to consume invest
with our own bob pisani. >> you're looking to the market right now based on the next 12 months. at about $109. we should be trading at around 1740. if we were at the median p.e. of 16 -- >> 1740 on the s&p? >> 1740 would be a 16-forward multiple which is the median since as far back as capital iq has had forward estimatinged earnings. >> right now you're on 1426 on the standard & poor's. let me get your take on this. i recognize there are a lot of ways to look at things. but there's also a technical way to look at something. and that is if a stock is undervalued, maybe it's cheap for a reason. and maybe it will get cheaper. so why do you think that we're supposed to go back to the way history has shown us, when in fact sometimes the stock is cheap for a reason and only gets worse. >> that's what's causing a lot of investors to sit on their hands saying i'm not buying into is the. our forecast is for a 10% advance which is basically what history says we should be experiencing based on where we are now in this low inflationary environment combined with trailing gap earnings going back to t
on the "closing bell." bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. just a few minutes before we close out session, the volatility index is up better that be 10%. take a look. what does this tell you in the investor we bring into the conversation right now michael pento along with brian beleskey from bmo capital market. thanks so much for joining us. michael, what's your take on this volatility index? >> it's been a lousy investment. you can't buy volatility, you have to buy the vxx and like t
, everybody, the best thing to watch this month, and bob pisani pointed this out. the transportation stocks have been very strong. china has been strong. mandy, you know, japan has been strong, and the banks have been strong. to me there's an underlying strength to the market when some of the bodyguards have been doing well so i think the market wants to do better. that having been said the fiscal cliff will turn out to be not a maxi deal but a mini deal and will clip the economy not by 1% but a 2% and a 60% chance something will get done but that's where we come out on it right now. a little bit harder hit to the economy. >> don't adjust your sets, everybody. this is what bob sounds like today. >> this is a different exchange here. >> not doing your imitation of david? >> what do you think that the seasonal factors are a major reason why the markets are holding up so well? if you look at the havens, gold, treasuries, for example, the dollar, there's no sign of panic in the haven. >> silver is down. you've seen a little bit of a lift in the vix, closer to 20. that's not bad, a normalization
here. people feel like it really keeps netflix in the game. >> we want to get a little more from bob, who is in the crowd, where berkshire has halted for news pending at this point. bob, there's been talk that berkshire quietly acoming a big stake in avida. that's now 13%. maybe it has other intentions in terms of ownership with that company. >> significant speculation just from what the news pending is. we don't know what it is. but i want to note, melissa, berkshire class a and class b shares are both halted news pending. the crowd is just sort of standing around here with orders to buy or sell, waiting to find out exactly what the news is going to be. you'll notice we're up again today. the sixth day in a row the dow industrials are up. optimism on the fiscal cliff being resolved. i'll tell you this, somebody's very wrong about 2013, because there's two camps that are quite at odds with each other right now. the first one i've been telling you about, it's been quat bearish on this. that the fiscal cliff will be a headwind for stocks. that this represents the start of a new america
for your comments. rick said we are not amused with bob costas comments on the murder suicide. is everyone who doesn't agree with you a left-wing radical? no. another common is that the media has been talking about the nfl murder suicide. now we are talking about limited citizens gun rights. when we talk about the drugs that were taken by the nfl player? thank you for being with us tonight can i help you? i heard you guys can ship ground for less than thups store. that's right. i've learned the only way to get a holiday deal is to camp out. you ow we've been open all night. is this a trick to get my spot? [ male announcer r ] break from the holiday stress. save on ground shipping at fedex office.
, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. >>> welcome, everybody. right now you can see futures up about 45 points for the dow jones. in the headlines, bernie madoff's younger brother is expected to face a judge today for his role in the multibillion dollar ponzi scheme. apparently victims of this scheme are lining up to watch this happen today. >>> new social media app hucsster allowing users to flag items for when they go on sale. >>> explain what this is for those who haven't downloaded the app and need to go and do it right now. >> hucster is a platform that tracks specific items across your favorite retailers and let us you know when they want. >> so there's something i want, like a vitamix blender, you would put it in and it would track it at the cheapest retailer? >> well, we would track it for coupons, promotions at your favorite retailer and anytime the price drops, we would let you know about it. >> what is the hottest item of the holiday season? >> there was a vest from j. crew that recently sold out, but you prob
is hillary clinton's testimony. both senator bob corker and senator lindsay gramm have now said, there should not be a new secrettry of state and tell hillary clinton testifies. this certainly incentivizes john kerry to find some time on hillary's busy schedule in the next week or so and see if they cannot give her up there. this report does not answer a huge range of questions. the mainstream media after three months has paid his no attention so i think it's hard, but i think the fact is that the policy failures that ended up in that tragedy in benghazi have not been changed and with gary in office, every prospect is they wiimply continue down thsame road which invitee more tragedy. lou: it is a chilling that this 3-month of stonewalling has succeeded to this point and that there is no indication irrespective of the appearance of secretary clinton. let's hope that i am being overly skeptical here, but irrespective of her appearance before congress. we will soon see a break in the stone wall. lou: i don't think they're well. when they come back there will be a new government, and the secretar
morning, bob costas admits he made a mistake addressing gun control during half time show of the sunday night football game. he says he should have done it when he had more time to flesh out his point of view. well, we'll be discussing that one. president obama says a deal will not happen without higher tax rates on the rich. kirsten powers, who i think has shifted to the right just a little recently, kirsten powers will be with us and defend the president's position. the city of huron, south dakota wants to ban eating while driving. all rise, the judge will have something to say about that. what can you legislate. what can you regulate in terms of behavior when you're driving. no eating? we want to hear from you e-mail us at varney@foxbusiness.com. and seven early movies.tibco so and pandora, bad news, down it goes. citi cutting 11,000 jobs and going to save a billion bucks a year. up a buck 30 on that one. seismic equipment supplier named mitchum, posted what's described as a surprise loss. down 17%. and a defense contractor, posted higher profits. better than expected. maker of tommy
. before we go, you, bob have been known as the president's ear right for banking. >> i'm very close to him. liz: what is happening with the fiscal cliff, him and boehner. >> listen, they have had great meetings with ceo's. they have had three meetings with ceo's. the president wants a deal. boehner wants a deal. i think it has to be balanced with revenues including increased rates on taxes. i would say at like 75% that there's a deal. liz: well, there's a deal tomorrow when this auction is up. they're incredible. internship at chanel. come on you know a kid that wants that. incredible offers. good luck. good work you're doing, kerry. >> thank you for doing this. liz: kerry kennedy. oh the website, rfccenter.org. >> rfkcenter.org. liz: then you will click on it and see where the auction is. go falconning with rfk, jr., her brother. that's what you would like? david: i would like to go falconning. i would have to bid. liz: 5100. david: that is not bad. for a good cause. liz: always. david: apple and google have become french mys. -- frenemis. they are on a bid for kodak patents. we'll have t
though some republicans seem to be budging. that is 5:00 p.m. eastern here on fox business. lori: bob corker. i can see in the fluffy slippers. melissa: what did bob corker have to do that? lori: he is the one that suggested that the republicans should accept wealthy tax increases and move on to entitlements. one big money strategist says don't give up on different den stocks quite yet. halfer ford chief investment officer hank smith joins tracy and ashley next on. don't miss it >> we have three weeks of gains and kicking off this week with up arrows. not too far the unchanged line. that seems to be the trend. we're moving higher, slowly but surely. let's take a look at names very key here. watch, first go across the board. the best of the bunch. tech is beaten down lately. now it is coming back. up one quarter of 1%. look at mcdonald's. out with same-store sales for the month of november. much better than, they beat the street for november. october was a terrible month for mcdonald's globally. it was their first month of same store sales they saw a decline in nine years. everybody wa
. the cleaning up begins all across the country. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. omnipotent of opportunity. you know how to mix business... with business. and you...rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i could get used to this. [ male announcer ] yes, you could business pro. yes, you could. go national. go like a pro. military families face, we understand. at usaa, we know military life is different. we've been there. that's why every bit of financial advice we offer is geared specifically to current and former military members and their families. [ laughs ] dad! dad! [ applause ] ♪ [ male announcer ] life brings obstacles. usaa brings advice. call or visit us online. we'
kind of deal, but as bob pisani's been saying, i'm wonder if it's a bite rumor and sell the fact situation. >> more negative now than when i came down here. >> that's not very encouraging. where's the hope "closing bell" is next. >> a government fractured, a market paralyze. a call to action our markets careen towards the sharp edge of the fiscal cliff. we've is asked our politicians to seem compromise and find a solution. the clock is ticking down. the stakes are getting higher. now we're turning up the pressure. this is a cnbc special report, "mission critical, rise above d.c." >> and we do welcome you to "closing bell." i'm bill griffith here at the new york stock exchange. hey, maria. >> hey there, bill. big rally where you are. i'm bartiromo coming today from the white house for our special coverage. stocks rallying on the on the missile that perhaps we are nearing a fiscal cliff deal. coming up we'll, find out from key lawmakers in the fiscal cliff negotiations how we can actually get a deal done before the deadline. representative chris van hollen, lynn jenkins and javier
? who would have thought? i did. we did, bob. we did. got it. made a retirement plan, they considered all her assets, even those held elsewhere, giving her the confidence to pursue all her goals. when you want a financial advisor who sees the whole picture, turn to us. wells fargo advisors. >>> as we give you a market check on this new york stock exchange. a lot of the monitors are on news channels covering the shooting in connecticut, the industrials down 4.5% at 13,166. the s&p 500 basically flat at 1416. the nasdaq composite down 14 points as apple continues to slide just a little bit. there's some of the new york stock exchange activities including one stock of great note today. best buy, david favor reporting that the company has given
the president is hopeful a fiscal cliff you will get done in time, mayor bob buckhorn is concerned at how higher taxes will affect the tourism throughout the state. this has an interesting twist. we know that local mayors across the country are worried about the fiscal cliff deal. i think this is one that not a lot of people are talking about. >> melissa, what i do think is if this tax bill is not passed and middle-class folks do not get sick -- do not get the tax exemptions that they normally get, my concern is not raising taxes on the 2% and it is even much less. the 98% of the people who need those middle-class taxes extended are the people that i represent and those of the people traveling to florida for vacation. melissa: i hear you, but you represent and that of those other folks also. there are a lot of wealthy people that live in the tampa bay area and in gorgeous homes on the gulf coast area. you are real estate market has been among those of the most deep rust. why would you want to raise taxes on your wealthy citizens either? >> i think it is a fairness issue. it is a moral issue. the
because we at bob brooks stone capital management have been very bullish in the 2008 crisis. it produced some stellar total return for our clients that include the interest on a tax rebate and appreciation. dennis: would you prefer that i as your client buy an entire bond or maybe ought to buy a basket in an e t f or something. >> without a doubt. the opportunity we have seen through actively managed mutual funds. what happened in 2008 was indiscriminate selling across the entire sector. it created a miss pricing in many of the bonds and a lot of these mass and -- managers were able to take advantage of that. in terms of bikers of vacation and getting access to literally thousands of bonds, a much better plan to actively -- actively managed funds and take individual bonds for your portfolio. dennis: you probably run one of those and get good fees on its though that is totally fine. when i do this i am going to buy bond. and by buying it to hold onto until maturity or am i buying it so i conflict and selling when it goes up in price? >> with funds there is no maturity. you're buying a bas
if people do buy it they know how to take their losses. bob petronis of 24% and we have nielsen at a 20% premium. that is why you see armaron moving, one is television and what is real but determining how much advertisers pay. we watching this, $1.6 billion acquisition. this is why you are seeing a move. why is nielsen doing it? it plans to expand its watched measure to keep tabs on consumer viewing and worsening habits across the television, computers and mobile devices. ashley: thanks, we will be back. tracy: we should tell you charles said is tough on facebook was 24, 17 -- ashley: oh. [talking over each other] tracy: much more on the markets. doug cote, is the market too focused on the fiscal cliff? what he is worried about more is next. ashley: how the dollar is moving, a bit of risk appetite coming back into the market. the result of that, the euro up 132-28 busting through the 131 level, the pound is expensive. go to paris and london. we will be right back. you know how painful heartburn can be. for fast, long lasting relief, use doctor recommended gaviscon®. only gaviscon® for
. there is more to come at citigroup. >> looking at the headlines, i would say 11,000 jobs is a bob. roll forward. 900 million of cost savings. it is not unexpected. connell: they save 900 million, i believe, next year. and in 1.1 billion or more after that. do we read into it more and say it is a wall street story? >> we have a new ceo who knows consumer business. try to make his staff and his and person. we have to give him credit for that. bank of america announced something similar. there is still hiring. hiring at a different level. we do training for the new hires. the numbers are approximately flat, there are 2000 hiring numbers should be similar to 2012. ththe still is a hiring gogoing see, do people still want to work on wall street, do they still want to work there? are they looking at different things now than they did before the crisis? >> the numbers are still there. we do a lottof workshops. they are holding up. i think what is happening, the people that want to go to wall street are really excited about that as a career. the marginal people -- connell: they figured they didn't have
're right, bob. that's it. >>> coming up, we'll head to vienna where opec leaders are talking crude prices and production. and what is the ceo of the world's largest retailer saying about the fiscal cliff? i bet he wants to rise above. find out your next question on "squawk box." twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome back. u.s. equity futures are suggesting a positive open. the dow would open 45 points, the dow 6.5. gains of .4% to.5% across the board. now the weather channel's eric fisher with the national forecast. eric? >> hey. good morning, everyone. our stormy weather for today i
're so worried about -- >> that's because they want to make money. it's like what bob pisani said. this is just what the traders wanted. okay i'm done, you go. >> let me quiz for you for a second. if they were so concerned about this imbalance, which ostensibly is about the inability of the u.s. government to pay its bills, why aren't they selling the very paper they appear to be buying with abandon? >> because they would like to continue to contribute tax revenues to the ever-growing deficit and money. >> need for employee -- >> but agreement to making money are two different things. >> talk to the guys behind you and find out if they so think the u.s. is -- >> -- exchange guys. these are foreign exchange guys. >> get into the other pit there. go take a walk and come back. i don't get it. if they so think we're out of whack why aren't they selling? >> come over here anthony. all right. hold on. i'll translate. give me the question. >> here's the question. >> steve liesman has a question. >> if the u.s. fiscal situation is so out of balance, if the country is so bankrupt, why isn'
's check with mary thompson, on the floor in for bob pisani today. >> weakness across the board. weakness in the nasdaq, down about 20 points. the dow lost in early trade. a little more modest in the s&p, down 4.25%. traders saying the fiscal cliff headlines will continue to dictate trading. and here there was a little reaction in the futures market ahead of today's opening bell on the data and the better than expected production numbers. overseas, last night we did have some more bad news out of japan with business sentiment there weakening. as melissa was mentioning earlier, positive news on the manufacturing front in china. that's giving a lift, as she pointed out, to a number of mining stocks. while it's also giving a lift to energy, or to oil prices this morning, i should point out, some of the big name oil companies were a little bit lower in early trading, again, those being exxon as well as chevron. the traders said the bid in the market remains strong despite concerns about the fiscal cliff in large part because the investors remain positive going into 2013. this is the markets r
supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. excuse me, sir i'm gonna have to ask you to power down your little word game. i think your friends will understand. oh no, it's actually my geico app...see? ...i just uh paid my bill. did you really? from the plane? yeah, i can manage my policy, get roadside assistance, pretty much access geico 24/7. sounds a little too good to be true sir. i'll believe that when pigs fly. ok, did she seriously just say that? geico. just click away with our free mobile app. >>> welcome back, everybody. if you are just waking up, the end of the world has come and gone and we are still here. dow futures are indicated sharply down, weaker by about 142 point. that's coming after boehner's plan b was never brought to the floor because they didn't have the votes. that has a lot of people thinking that it is going to be much more complicated to get any sort of deal by the end of the year. you see some reflection in the markets, certainly not the reaction that we saw after the t.a.r.p. vote faile
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